The largest bank in the United States, JPMorgan Chase, intends to let customers use cryptocurrency-related assets as loan collateral, beginning with BlackRock’s iShares Bitcoin Trust ETF. Given that President Donald Trump’s administration has been actively assisting the sector, this is a significant step.
As per the Bloomberg report, JPMorgan will soon start offering loans backed by crypto exchange-traded funds (ETFs), starting with the BlackRock Bitcoin ETF taking the lead. This is the latest step by a major U.S. bank to get more involved in crypto.
Additionally, JPMorgan will also start including clients’ crypto holdings when checking their total wealth and available assets in some cases. This means cryptocurrencies will be treated like stocks, cars, or art when deciding how much money a client can borrow.
JPmorgan has been using blockchain technology for years, mainly for things like payments. It also works with major companies like Coinbase. However, its CEO, Jamie Dimon, often criticized crypto. At an investor event in May, he said he is “not a fan” of Bitcoin, but still allows the bank to offer it to clients.
Previously, JPMorgan permitted only select clients to use crypto ETFs as collateral on an ad-hoc basis. With the new policy, more ETFs will be added over time. Other large institutions, such as Morgan Stanley, Morgan Stanley is said to be in the process of adding cryptocurrency trading to its E-Trade platform.
Spot Bitcoin ETFs, introduced in the United States in January of 2024, have been an enormous success–now handling over $128 billion in total assets. Meanwhile, Bitcoin itself reached a new all-time high of $111,980 in May of 2025, after Donald Trump’s November 2024 presidential election win.
The industry of cryptocurrency was heavily involved in backing Trump’s campaign, donating generously to assist him and other crypto-friendly politicians in winning. Trump has since encouraged various policies that will further the industry’s growth. His family has also ventured into the crypto market, with operations including Bitcoin mining to memecoins.
Also Read: JPMorgan CEO Jamie Dimon Sounds Alarm Over US Bitcoin Reserve
